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Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emerging from the doldrums. Still, newbuilding deliveries are piling up as we approach the year's final stretch, while things aren't looking all that rosy when one takes a look at the orderbook build up in the next couple of years, especially after this year's frantic ordering activity, especially in the dry bulk segment. It seems that most ship owners are prepared to pay the price of a two-year weak market rates during the early stages of their newbuildings' lives and break-even or even profit afterwards. The reason being that this time around, orders are made at much more reasonable prices when compared to the 2007-2008 excess.
According to the latest weekly reports from shipbrokers like Golden Destiny, in the ever so important ship scrapping markets, "benchmark scrap price levels in Indian subcontinent region seem hard to surpass the barrier of $400/ldt for dry cargo since the end of May, while they fell further during the last days of July by loosing $10/ldt. Indications for scrap rates in Indian subcontinent region are now $375/ldt for dry and $410/ldt for wet cargo. In China, there has been a soft rise of $5-$10/ldt with rates now at $325/ldt for dry and $340/ldt for wet cargo.
India remains weak with sources suggesting that Alang, for the first seven months of the year, has not even reported half of the number of ships which were beached last year. The stability of Indian Rupee to USD and local steel demand for infrastructure and real estate are the basic fundamentals lying behind the rebound of scrap rates. After government’s intervention, there are hopes for not further depreciation in Indian rupee. Ramadan period is also an important factor for the current soft price momentum, while yards at Pakistan seem full of capacity and Bangladesh is still facing delays in beaching and opening of letters of credit from breakers for delivery of the ship", the Piraeus-based shipbroker said.
In total there were 17 ships reportedly sold for scrap over the course the past week, sporting a total deadweight tonnage of 1,311,419 tons. Five of those ships were dry bulkers, seven were tankers, one was a gas tanker, a couple of them were liners, one was a container and one a Ro-Ro. Demolition activity was down 19% week-on-week, but it was up by 33% in the tanker segment. The main reason for the fall in activity was a 44% decrease of dry bulk carriers' demolition deals. "The largest activity is recorded in the tanker segments by holding 41% share against 29% share from bulk carriers. In terms of deadweight sent for scrap, there has been 7% weekly increase with 3 VLCC tankers sent for disposal, 1 aframax tanker, 1 panamax tanker and 1 panamax bulker. India is reportedly to have won 7 of the 17 demolition transactions, Bangladesh 4, Pakistan 4, China 1 and 1 demolition transaction are reported at no revealed destination. Benchmark scrap prices in the Indian subcontinent region: $375/ldt for dry and $410/ldt for wet cargo. Scrap prices in China hover at $325/ldt ldt for dry and $340/ldt for wet cargo. Notable demolition transactions: LNG Barge FORMENTERA with 2,154ldt achieved in India an impressive price of $510/ldt due to high quantity of non ferrous on board including 386tons of solid aluminum tanks.
At a similar week in 2012, demolition activity was down by 59%, in terms of the reported number of transactions, when 7 vessels had been reported for scrap of total deadweight 366,304 tons with 3 disposals for bulkers, 2 tankers and 2 Ro-Ro. Ship-breakers in Indian subcontinent region had been offering $375-$385/ldt for dry and $400-$410/ldt for wet cargo", Golden Destiny said.
Meanwhile, in a separate report, shipbroker Intermodal noted that "with difficulties still witnessed in much of the Indian Sub-Continent it has been no surprise that demo candidates were receiving ever softer prices from breakers in the region. With steel demand softening further in the region and pressure still mounting from the ever insatiable climb of the Indian Rupee, cash buyers had little choice left but to back down from any impulsive purchases and wait out the “storm” looking for when the market would find its new norm. As it seems, Chinese scrap buyers were more then eager to take up this opportunity to cover the gap, anting up their offers in the hope to attract some of the more high spec dry bulk candidates out there. Prices overall weakened this week, with wet tonnage going for around 340-410$/ldt and dry units seeing levels of about 325-380$/ldt", it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
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- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
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